TiGenix Raises EUR 12 million via a Private Placement of New Ordinary Shares
LEUVEN, Belgium, Nov. 20, 2013 (GLOBE NEWSWIRE) -- TiGenix NV (Euronext
Brussels:TIG) today announces that on November 19, 2013, after the market
closed, it has raised EUR 12 million through a private placement of 34.188.034
new ordinary shares with Gri-Cel S.A., a fully-owned subsidiary of global
healthcare company Grifols S.A., at an issue price of EUR 0.351 per new share.
The issue price is at least equal to the average closing price of TiGenix'
share on NYSE Euronext Brussels over the 30 day period preceding the date on
which issuance of the new shares commenced (i.e. 19 November 2013).
In connection with this capital increase, the Board of Directors disapplied
the preferential subscription rights of existing shareholders for the benefit
of Gri-Cel. The capital increase was decided within the limits of the
authorized share capital in accordance with article 6 of the articles of
association of TiGenix NV. TiGenix does not intend to use the portion of the
authorized capital remaining after issuance of the aforementioned new shares
to issue any additional shares with cancellation of the preferential
subscription right of the existing shareholders, except, as the case may be,
for capital increases in the framework of the issuance of warrants.
The issuance of the new shares is expected to take place on November 22, 2013
provided TiGenix has timely received the proceeds of the private placement
from Gri-Cel. The listing on NYSE Euronext Brussels of the new shares will be
requested. In this respect, TiGenix will prepare and, after approval by the
FSMA, publish a prospectus regarding the admittance of the new shares to
trading on NYSE Euronext Brussels.
TiGenix intends to use the proceeds of the private placement mainly for
advancing the Company's Phase III clinical trial in complex perianal fistulas
in patients with Crohn's disease (Cx601) and for pursuing market access and
reimbursement and advancing the commercial launch and roll out of
ChondroCelect in selected European markets.
It is expected that shortly after closing of the transaction two directors of
TiGenix will be replaced by two directors proposed by Gri-Cel.
TiGenix will in the future offer to Gri-Cel the possibility to evaluate and
negotiate potential partnering opportunities in relation to the development
and the commercialization of TiGenix products other than ChondroCelect.
For more information
Eduardo Bravo Claudia D'Augusta Hans Herklots
Chief Executive Officer Chief Financial Officer firstname.lastname@example.org
email@example.com firstname.lastname@example.org +32 16 39 60 97
TiGenix NV (Euronext Brussels:TIG) is a leading European cell therapy company
with a marketed product for cartilage repair, ChondroCelect®, and a strong
pipeline with clinical stage allogeneic adult stem cell programs for the
treatment of autoimmune and inflammatory diseases. TiGenix is based out of
Leuven (Belgium) and has operations in Madrid (Spain), and Sittard-Geleen (the
Netherlands). For more information please visitwww.tigenix.com.
Grifols is a global healthcare company with a 70-year legacy of improving
people's health and well being through the development of life-saving plasma
medicines, hospital pharmacy products and diagnostic technology for clinical
As a leading producer of plasma medicines, Grifols has a presence in more than
100 countries and is the world leader in plasma collection, with 150 plasma
donation centers across the U.S. Grifols is committed to increasing patient
access to its life-saving plasma medicines through significant manufacturing
expansions and the development of new therapeutic applications of plasma
proteins. The company is headquartered in Barcelona, Spain and employs more
than 11,000 people worldwide.
In 2012, Grifols' sales exceeded €2,620 billion. The company's class A shares
are listed on the Spanish Stock Exchange, where they are part of the Ibex-35
(MCE:GRF). Its non-voting class B shares are listed on the Mercado Continuo
(MCE:GRF.P) and on the U.S. NASDAQ via ADRs (NASDAQ:GRFS). For more
information visit www.grifols.com.
Important information about forward-looking statements
This press release is for information purposes only and is not intended to
constitute, and should not be construed as, an offer to sell or a solicitation
of any offer to buy shares in the share capital of TiGenix NV (the "Company").
This announcement has been issued by and is the sole responsibility of the
Certain statements in this press release, as well as oral statements that may
be made by the Company or by officers, directors or employees acting on their
behalf relating to the subject matter hereof, may be considered
"forward-looking". Such forward-looking statements are based on current
expectations, and, accordingly, entail and are influenced by various risks and
uncertainties. Forward-looking statements may be identified by references to
strategy, plans, objectives, goals, future events or
intentions.Forward-looking statements involve a number of known and unknown
risks, uncertainties and other factors, many of which are difficult to predict
and generally beyond the control of the Company. Forward-looking statements
may and often do differ materially from actual results. The Company therefore
cannot provide any assurance that such forward-looking statements will
materialize. Additional information concerning risks and uncertainties
affecting the business and other factors that could cause actual results to
differ materially from any forward-looking statement is contained in the
Company's Annual Report. Forward-looking statements speak only as of the date
they are made. The Company expressly disclaims any obligation or undertaking
to update, review or revise any forward-looking statement contained in this
announcement whether as a result of new information, future developments or
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